Member Info for BillTucker89

Meta try, but I’ve just lost 65k so need to recoup it somewhere and quick as possibl. This is very volotile so may help?

Hi guys just sold out at 18.62 for £5500. Looking for a decent entry point now to double up.

I mentioned the timing of the EGM yesterday. The rules are the date had to be set within 21 days, with the meeting happening within 28 days of the request. This makes it 6th March the latest.

How IRV managed to come up with 26th March is beyond me. Do their £76m advisors know how to add up.

Thanks for the confirmation and support to both CC and Feileb.

Feilb- can I still buy the preemptive rights if sell? Assuming I can since the ex right date was the 26th.

Gaza- yes hence I would buy in at 15p or 10p even with the money

Gazza- yes it’s a big loss £63k but I don’t see much of a rise between now and then. Even if there is I’ll only be a couple of grand better as my average is £2. This will never reach £2.

If I sell now I get to cash out now at 22p I will get £770. assuming the deal is successful I get to buy 50000 with my £7700.

Add in my initial investment of 70000 my average will stand at £1.4 so 60p lower. Still way to high since this will never go past 40p ever again with 3bn shares in issue.

Or am I missing something?

I

Guys can someone please confirm what I loose if I cash out now? As my average is £2 I stand to lower my average by selling out now and using the money to buy back in at 15.3p. As we are already pass the ex date of 26th, what do I loose apart from 90% of my money.

Agree Meta the EGM is irrelevant now, as the the deal would have been voted on way before then.

Even if the deal is appproved the lenders will own the majority shares anyway, so BOD will not be voted out.

I think I might sell my current holding and buy in at 15.3p if deal is approved. The risk is certainly too greet here now.

Also all is not what it seems. Existing shareholders can only purchase upto 33% of the share capital so effectively it looks like it will be 6-1 prememotive offer meaning lenders will still own 60% of the shares.

https://www.google.co.uk/amp/s/amp.theguardian.com/business/2019/feb/27/interserves-biggest-shareholder-says-rescue-plan-is-terrible

I’m confused bsidering selling my holding and buying in at the open offer with the same money. Will reduce my average by 50p. Do I need to hold these to be eligible???

Well guys I’m gob smacked by such a horrendous deal. Initially I misread the RNS in the morning as 9 shares for every 1 held, which was bad enough but this is taking the biscuit. For me to take up this offer would involve me forking out a whopping 100k!!! This is shear madness.

The only reason this SP is holding up as they can’t afford for it to drop below 15.3 for now, since they will face a similar issue as Kier where they had minimal takeup. I may bloody cut my losses and sell up, as this is just ludricous. The fact the bod will not take place in the OO tell you there is more to come and we will see 10p again.

Feilb- the fact the bod have elected out of their own deleveraging plans tells all is not what it seems and there are more nasties to come. For this reason I shall not buy in either, but rather buy in later as there is a possibility this will go back to 10p.

Wel I should have sold at 25p and bought back in now would have reduced my average a great deal. Certainly not taking up my preemptive offer with this uncertainly. Could drop below 15.30

Meta exactly this is why they have held the EGM after the proposed date, so the bod cannot be voted out before the refinancing. The share price is already pulling back

No idea though the results are out for 2018, operating profit was 92.7m.ner debt stood at 631m at year end.

Feilb- yes but if the BOD cared about Coltrane, they wouldn’t have proposed the 2.5% without Coltrane’s to begin with since they are the largest holder. The fact that they did just shows how much they value Coltrane’s view.

Meta- Agree the bit about the deal being put forward. Whatever gets puts forward tommorow will be on a take it or leave it basis more or less, unless something extraordinary changed in the meantime. Yes if there are no improved terms on the cards, then I would say that administration is not a bluff.

Feilb- yes it would be embarrassing if they got this wrong, but didn’t have no self esteem to start with. What you have to remember is they are big kickbacks for the BOD for getting ludricous
deals such as this through over the line. You only have to look at Jarvis and Mouchel as an example, where the BOD were paid a few hundred thousands of pounds each to get the d4e deal through.

The 5% deal is still ludricous as you say it’s still below the current share price and for the robust business IRV is. I was tempted to sell today at 20p and buy back In at a later date, as this could tank like anything tommorow or shoot up like a rocket, but couldn’t justify selling at a 65k loss.

What spooked me was City AM apparently quoting from a well placed source that they will not just give in to Coltrane easily. After all why would they? They will not get the 500k each that the banks will give them should they get their deal through.